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Thread: Pag-ibig Loan Payment Problem

  1. #1
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    Pag-ibig Loan Payment Problem

    Hi Atty. Biron! I would like to inquire regarding my pagibig loan payment problem . Last June 3, 2010, I got print out of my loan payment from pagibig, it was stated there that my remaining balance is P1,462.84, the principal balance is P1,852.98 with a rebates of P390.14. so i pay the P1,462.84 to settle my pagibig loan the next month. Last August 10, 2010, i went to pagibig pasay branch at malate, i request for print out of my loan payment to see if my loan were settled already, i was dismayed to see that i still have remaining balance of P390.14 and i was advised that i settled 23 months only. I told them that it is truly 23 months but the amount is actually the whole amount minus the rebates that they previously deducted from the remaining balance as stated in the print out. please enlighten me Atty. for i cannot accept their reason why i still have remaining balance until now. but if i get the best reason they can provide i will pay it right away. Thanks for the help its so nice to know that we have somebody who will help us in matter like this. God bless!

  2. #2
    Administrator Atty. James S. Biron's Avatar
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    Hi Aaronxed, you did not indicate the reason why they charged you P390.14 despite the fact that it has been credited as a rebate. In case you did not ask the person from Pag-Ibig, ask him/her their basis for not honoring the P390.14 rebate. You may also request to talk to the head or manager of that branch.

  3. #3
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    pagibig loan payment inquiry

    Hi Atty. James!The personnel said that i still have remaining balance of my loan of P390.14 because im on my 23rd payment and i need to pay it and she also said it because of their system, it was provided by the system thats why still have balance. That is their reason and i cannot accept it because it was stated in their print out that my remaining is P1,462.84 and i pay the whole amount last july when i came back to check my account i still have P390.14 balance. At first, i thought it is an interest but thinking it over that is too big for an interest because it takes a month only after i settled it and the remaining is to small. Thanks Atty. for the help. I will talk to the manager about it. Do you have any idea on who is the manager of PAGIBIG Pasay Branch located near LRT Vito cruz station. Thanks a lot!God bless!

  4. #4
    Administrator Atty. James S. Biron's Avatar
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    I would not buy that kind of reasoning if I'm in the same position as you are.

    Sorry, I don't know the manager of Pag-Ibig Pasay Branch.

  5. #5
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    Atty, ask ko lng po...may aprroved loan po ako na 1.6m at for 1 yr nagbabayad po ako ng 17k+ monthly... then lately nakausap ko ang representative ng developer namin at ang sabi, kailangan ko pa daw bayaran sa kanila ang fire insurance at mri for 1 year... kase daw, ang nakuha ko lng sa loan eh nsa 1.4m binawas daw yung 140k+...hindi ko po maintindihan. kase after more than a year after ng loan take out eh ngaun lang nila ako ininform dito. akala ko kase sa pag-ibig na ako magbabayad ng loan ko. eto po bang insurance na sinasabi ng developer eh kalangan kong bayaran directly sa kanila at hindi sa pag-ibig? paano po ba ang terms ng pag-bayad nito? At kailan po ba marerelease ang titulo? Kasama na po ba iyon sa hinuhulugan ko, or sepate pa ng bayad?

  6. #6
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    Atty. good day, would like to ask lang if Pag-ibig or HDMF is offering also an amnesty program for multipurpose loan.

    thanks in advance.

  7. #7
    Administrator Atty. James S. Biron's Avatar
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    Good day too, they are not offering amnesty program as of this writing.

  8. #8
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    Good morning sir! Thanks for sharing your time and expertise with us.

    I resigned from my job in 2006 with a multi-purpose loan balance of about 7,000+ php. I originally planned to pay it back as soon as I got a new job but as of today I am still jobless. What do you think would be the best course of action for me? Pay the loan arrears now in full or wait until I get a job and transfer the loan there?

    Would you also have an estimate of how much the arrears would cost me at this point? It would be almost 5 years of non-payment.

    Thanks again!

  9. #9
    Administrator Atty. James S. Biron's Avatar
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    Good day Michiko,

    You should pay your loan now. Do not wait until you find a new job. You have to do this because there is a penalty rate of 1/2% of the unpaid amount for every month of delay aside from the usual interest rate of 10.75% per annum for the duration of the loan.

    To compute the arrears you have to pay, simply multiply the exact unpaid amount by 1/2% for every month of non-payment and also multiply it by 10.75% for the interest.

  10. #10
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    hi atty!

    ask ko lang po if pag-ibig do offer a condonation program for their delinquent borrower? kase po i also have an unpaid loan balance, 6yrs ago pa po na-aaprove and loan ko, to my computation base on the formula you provided above aabot na sa 23k ang utang ko na ang original lang ay nasa 7k. kung wala po condonation pwde ko po ba bayaran ito ng staggered through salary deduction to my new employer? Thanks so much atty.

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